Spirit Mergers and Acquisitions Presentation Deck

>>> ...And Clearly Don't See Value in a Deal JetBlue Share Price Performance (%)(¹) May 16th May 19th April 4 - 29th May 2nd JETS (1.2%) $1.5B of JetBlue Value Destruction Since Initial Offer for Spirit Made Public (25.0%) Since Offer Made Public Source: Capital IQ. 1. JETS is the U.S. Global Jets ETF. 2.6% Spirit Rejects JetBlue Proposal JETS (0.2%) (6.1%) Hostile Tender Offer Announced 3.3% Spirit Board Recommends Shareholders Reject JetBlue Tender 30.6% total share price decline since April 4th JetBlue Market Capitalization ($B) May 16th April 4 - 29th May 2nd 0.1 Spirit Rejects JetBlue Proposal (1.2) Since Offer Made Public May 19th 0.1 Spirit Board Recommends Shareholders (0.2) Hostile Tender Reject JetBlue Offer Announced Tender $1.5B of JetBlue shareholder value evaporated since April 4th JetBlue has continued to pursue a strategy to disrupt to the Spirit / Frontier combination despite clear skepticism and concern from JetBlue shareholders JetBlue's Shareholders Are Saying "STOP!" 19

View entire presentation